Zesty new acquisition for UTV in £1.7m deal
Belfast-based UTV Media has snapped up an Irish social media agency for £1.7m in more diversification from its TV roots.
The company, which is one of Northern Ireland's few plcs, paid £1.7m upfront but another £3.3m could be paid depending on the future performance of the newly-acquired Simply Zesty.
Simply Zesty thirty-something founders Niall Harbison and Lauren Fisher will continue to develop their creation from its Dublin office - but as part of UTV's new media division.
It's the first significant new media acquisition by UTV since it paid £5m for web development company Tibus in 2008.
UTV group chief executive John McCann said: "Simply Zesty is a very successful Irish business with an international presence in the fast-growing social media sector. This acquisition strengthens our existing New Media division and adds further impetus to our multi-media strategy."